Schedules K-2 and K-3: Filing Requirements
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Virtual
2.00 Credits
Member Price $109.00
Non-Member Price $189.00
Overview
You could pay $0 for this course!
This course qualifies for EA/IRS and CFP credit. If you need EA/IRS credit, please contact Tyler Dion (tdion@masscpas.org) after you have registered and provide him your PTIN number.
Many partnerships and S corporations are now required to complete the voluminous Schedules K-2 and K-3 to report foreign-related tax information. Updated for the 2024 tax year, this course is an essential guide for tax preparers on how to identify which entities need to complete these schedules and how to identify which parts are applicable to a given taxpayer. The filing requirements are broad and often not very intuitive, catching many practitioners unaware that more schedules and parts are applicable to more taxpayers than anticipated. This course includes a deep dive into the domestic filing exception, a discussion of filing requirements of each part of Schedule K-2, and numerous examples of common taxpayer scenarios. Please note: Surgent also offers a companion course, "Schedules K-2 and K-3: Preparation of Forms" (KPF2).This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13061. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.
Highlights
Detailed discussion of the domestic filing exception Filing requirements and exceptions for every part of Schedules K-2 and K-3 Examples based on common client situations encountered in practice
Prerequisites
None
Designed For
Any tax practitioner preparing or reviewing relevant partnership and S corporation tax returns
Objectives
Understand filing requirements for Schedules K-2 and K-3 Identify what parts of Schedules K-2 and K-3 need to be completed
Preparation
None
Leader(s):
Leader Bios
Arthur Auerbach, Surgent McCoy CPE LLC
Arthur Auerbach, CPA, is a tax director for Goodman and Company of McLean, VA, specializing in tax consulting and financial planning for individuals and closely held businesses. He is a member of the Virginia Society of Certified Public Accountants, and the Greater Washington society of Certified Public Accountants. He is currently a member of the AICPA Individual Tax Resource Panel, a tax commissioner liaison committee member of the Virginia Society of Certified Public Accountants, and also serves as a member of the Advisory Board for the District of Columbia Office of Tax Revenue. Additionally, he is a nationally recognized lecturer on a variety of tax topics for the continuing education requirement for CPAs. Over the course of 40-plus years, Mr. Auerbach has managed a tax department, and has taught intermediate and cost accounting at Pace University as an adjunct professor. He was an editor for the Tax Research Institute of America. He has also authored several articles for trade association periodicals and he has recently appeared on television evening news programs, answering various tax questions. Mr. Auerbach holds a BBA degree in accounting from Pace University in New York.
Non-Member Price $189.00
Member Price $109.00